The Impact of Balance Sheet Lending versus Securitization Booms on the Severity of the Great Recession

2020 ◽  
Author(s):  
David Zink
Keyword(s):  
Great Recession ◽  
Balance Sheet ◽  
The Great Recession ◽  
The Impact

scholarly journals Preventing NEETs during the Great Recession: the effects of mandatory activation programs for young welfare recipients

2021 ◽  
Author(s):  
Emile Cammeraat ◽  
Egbert Jongen ◽  
Pierre Koning
Keyword(s):  
The Netherlands ◽  
Great Recession ◽  
Economic Recession ◽  
Welfare Recipients ◽  
Employment Effects ◽  
The Great Recession ◽  
Employment Education ◽  
The Impact

AbstractWe study the impact of mandatory activation programs for young welfare recipients in the Netherlands. What makes this reform unique is that it clashed head on with the Great Recession. We use differences-in-differences and data for the period 1999–2012 to estimate the effects of this reform. We find that the reform reduced the number of welfare recipients but had no effect on the number of NEETs (individuals not in employment, education or training). The absence of employment effects contrasts with previous studies on the impact of mandatory activation programs, which we argue is due to the reform taking place during a severe economic recession.

Shock or Design: What Drives Fiscal De/Centralization? A Comparative Analysis of Twenty-Nine OECD Countries, 1995–2017

2020 ◽  
Vol 51 (1) ◽  
pp. 1-26
Author(s):  
Tobias Arnold ◽  
Sean Mueller ◽  
Adrian Vatter
Keyword(s):  
Crisis Management ◽  
Great Recession ◽  
Political System ◽  
Multidimensional Approach ◽  
New Paradigm ◽  
The Great Recession ◽  
The Past ◽  
Fiscal Centralization ◽  
The Impact ◽  
Active Policy

Abstract Over the past decades, decentralization has become the new paradigm in how states should organize power territorially. Carefully planned institutional re-designs are the most visible expression thereof. Yet the Great Recession of 2007–2009 has pushed governments into the opposite direction, i.e., towards centralization, to better weather the fiscal drought. Given these contradictory developments, this article compares the effects of twenty-three separate state reforms with the impact of the Great Recession on fiscal centralization in twenty-nine countries over more than two decades. In the main, our analyses attribute a larger effect to design, i.e., pro-active policy making through reforms, than reactive crisis management after a great shock. However, this difference is only apparent once we consider a state’s institutional structure, that is whether a political system is unitary or federal. Our findings thus highlight the need for a multidimensional approach to better understand the drivers of fiscal de/centralization.

Municipal response to the Great Recession

2018 ◽  
Vol 30 (4) ◽  
pp. 384-401 ◽  
Author(s):  
Cary Christian ◽  
Jonathan Bush
Keyword(s):  
Great Recession ◽  
Rural Areas ◽  
Property Tax ◽  
Research Attention ◽  
Content Type ◽  
Service Levels ◽  
The Great Recession ◽  
Financial Condition ◽  
The Impact ◽  
Practical Implications

Purpose The purpose of this paper is to examine the impact of the Great Recession on small- to medium-sized municipalities within the states of Georgia and Florida using a newly developed set of quantitative indices. Design/methodology/approach An examination of the methods and strategies utilized by individual cities to maintain public service levels despite distressed revenues is performed. From the data, performance measures are developed and used to evaluate the efficacy of the various strategies used by the cities. Outcomes of Georgia municipalities were compared to similarly sized Florida municipalities to study how underlying differences in tax structures and economies might have affected those outcomes. Findings Georgia and Florida municipalities relied on very different strategies for surviving the recession and its aftermath. Enterprise activities were critically important in both states with transfers to or from governmental activities rationalized in various ways. While Georgia is generally anti-property tax, more than half the Georgia municipalities relied on property tax increases to survive. Municipalities were unable to count on increased intergovernmental revenues during the recession. Finally, even with a tourist activity advantage, Florida municipalities fared only marginally better during and just after the recession, and fared worse four to six years post-recession. Practical implications The measures developed in this study provide a new, customizable methodology for the evaluation of financial condition that does not require in-depth comparisons to peers. Social implications Small- and medium-sized cities, and especially those in rural areas, are worthy of targeted research to better understand their unique problems. Originality/value This research is novel in utilizing a fiscal condition methodology that can be applied to a single municipality and does not require comparisons to peers for validity. However, it represents a very intuitive and customizable tool for making comparisons between municipalities of any size when such comparisons are desired. Additionally, the focus of this study is on small- to medium-sized municipalities which generally do not receive as much research attention as larger cities.

The Impact of the Greek Indignados on Greek Politics

2016 ◽  
Vol 40 (2) ◽  
pp. 125-157 ◽  
Author(s):  
Paris Aslanidis ◽  
Nikos Marantzidis
Keyword(s):  
Public Opinion ◽  
Great Recession ◽  
Sovereign Debt ◽  
Party System ◽  
Debt Crisis ◽  
Supply And Demand ◽  
The Novel ◽  
The Great Recession ◽  
Political Forces ◽  
The Impact

The burden of this paper is to assert the significance of the 2011 movement of the Greek indignados for Greek politics during the Great Recession. Acknowledging the systematically feeble analysis of the nexus between non-institutional and electoral politics in social movement literature, the authors analyze the emergence, development, and heritage of the Greek indignados, focusing squarely on their impact on public opinion and the domestic party system, both at the level of interparty, as well as intraparty dynamics. The authors’ conclusions are drawn mainly from an analysis of political party discourse, public opinion data, and interviews conducted on the field, catering equally for the supply and demand side of the novel political claims that surfaced during the first years of the Greek sovereign debt crisis. The authors point to the crucial contribution of the movement’s discourse in facilitating voter defection from the traditional two-party system that ruled Greece for more than thirty years, and argue that the indignados functioned as a beacon of populist discursive tropes, which cemented the emergence of a new divide in Greek society between pro- and anti-bailout citizens. Conclusively, the authors take the position that the imprint of the indignados on the Greek psyche has had tremendous repercussions in consolidating a new party system, by undermining traditional political forces and legitimizing new, anti-establishment contenders.

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